Genesis announced preliminary data on the amount of its debt obligations

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According to Genesis, the company was unable to meet obligations to its 50 largest creditors in the amount of more than $3.6 billion. The company's total debt obligations could reach $11 billion.

As reported by The Block with reference toAccording to sources close to Genesis, the company has prepared a detailed list of its debt obligations. According to the filings, Genesis listed more than 100,000 of its creditors with total liabilities of up to $11 billion. Genesis's 50 largest creditors accounted for about $3.6 billion.

In particular, the list of the largest creditorsled by Gemini Trust Company with a claim for $766 million and the Dutch exchange Bitvavo with €280 million. The company owes $150 million each to the Mirana and Babel Finance cryptocurrency funds. VanEck New Finance, Plutus Lending, Abra and Cumberland DRW follow with claims totaling more than $100 million

It is noteworthy that Genesis did not discloseownership of several large claims, including one for $500 million, citing investments by individuals from the cryptocurrency savings platform Donut. Negotiations with Genesis creditors have been entrusted to the law firms Kirkland & Ellis and Proskauer Rose.

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Genesis Global Trading filed for bankruptcy protection late Thursday in federal bankruptcy court in New York.